Teleflex’s offer of $56 per Vascular share in cash represents a premium of 1.6 percent to the stock’s Thursday close.

The deal comes about 10 months after Vascular Solutions and its founder CEO, Howard Root, were found not guilty in a criminal prosecution related to alleged “off-label” promotion of its varicose veins treatment, Vari-Lase Short Kit.

Shares of the company, which makes devices for minimally invasive coronary and vascular procedures, have nearly doubled since Root was exonerated in February.

“Following the jury verdict in February ... I am not willing to assume much longer the personal risk associated with being the CEO of a public medical device company,” Root said on Friday.